Tapestry, Inc. (NYSE:TPR) Receives $47.81 Average Target Price from Brokerages

Shares of Tapestry, Inc. (NYSE:TPR) have been assigned an average recommendation of “Moderate Buy” from the eighteen analysts that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $47.81.

TPR has been the subject of several research analyst reports. Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $30.00 to $50.00 in a research report on Monday, February 5th. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Thursday, February 29th. TheStreet raised Tapestry from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Raymond James lifted their price objective on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Finally, The Goldman Sachs Group lifted their price objective on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 9th.

Institutional Trading of Tapestry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPR. Brown Brothers Harriman & Co. boosted its stake in shares of Tapestry by 340.7% in the 1st quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock worth $25,000 after buying an additional 511 shares during the last quarter. Alpha Paradigm Partners LLC purchased a new position in shares of Tapestry in the 3rd quarter worth approximately $26,000. Bell Investment Advisors Inc boosted its stake in shares of Tapestry by 718.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after buying an additional 833 shares during the last quarter. Quarry LP boosted its stake in shares of Tapestry by 100.8% in the 2nd quarter. Quarry LP now owns 968 shares of the luxury accessories retailer’s stock worth $41,000 after buying an additional 127,311 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Tapestry by 955.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock worth $41,000 after buying an additional 994 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Down 2.9 %

Shares of TPR opened at $41.44 on Monday. The company has a market capitalization of $9.51 billion, a PE ratio of 10.46, a PEG ratio of 0.88 and a beta of 1.57. Tapestry has a 12 month low of $25.99 and a 12 month high of $48.80. The stock’s 50-day moving average price is $45.50 and its two-hundred day moving average price is $36.96. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.46 by $0.17. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 EPS. On average, analysts anticipate that Tapestry will post 4.25 EPS for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio is currently 35.35%.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.